26th May 2022
Insurance Act 2015, Policy wordings and principles
Section 13A of the Insurance Act 2015 implies a term into every contract of insurance that if a claim is made under the contract, the insurer must pay any sums due within a reasonable time. What will be considered reasonable depends upon the facts, and the legislation provides a helpful list of factors to be considered.
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Policy wordings and principles, Reinsurance
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